Nordic Airways, a Stockholm-based airline that launched its first commercial flights between western Europe and Baghdad earlier this month, has had its operating license revoked due to financial troubles, a Swedish Transport Agency official said Saturday.

Agency spokesman Anders Lundblad said the license was pulled Friday after the Stockholm County Court rejected the company’s request for an extension to restructure itself.

Nordic Airways launched its Copenhagen-Baghdad route in the beginning of January with flights planned once a week between the Danish and Iraqi capitals.